Fed Chair Powell channels Ben Bernanke, assures us everything is fine!
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During a 60 Minutes interview, Federal Reserve Chairman Jerome Powell assured that the problems in the commercial real estate market are manageable and not a risk to the broader banking system. This assurance is reminiscent of former Federal Reserve Chairman Ben Bernanke's statements in 2007 that the problems in the subprime mortgage sector were contained. However, the subsequent financial crisis proved otherwise. The article raises concerns about the potential for history to repeat itself.
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